Sales numbers up but pace slowing: REINZ
The 6632 residential property sales last month was up 34% on January.
The national median price rose 7.6% to $382,000 compared to February 2012 but remains below the record $389,000 established last December.
REINZ chief executive Helen O’Sullivan said the rate of growth in the number of transactions was slowing despite prices being near record levels. The year-on-year increase in February 2012 on the same month the year before was 34.4%, while the increase in February 2013 on February 2012 was a more modest 7.5%.
“Supply shortages in Auckland and Christchurch are the main constraint, resulting in double-digit price increases in those regions with the median days to sell from listing at around 33 days. Across the rest of the country activity is more modest which is reflected in smaller increases in regional median prices."
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